Lam Research (NASDAQ:LRCX) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report released on Wednesday. They currently have a $218.49 price objective on the semiconductor company’s stock. Vetr‘s price target would indicate a potential upside of 6.54% from the stock’s previous close.

Several other analysts have also commented on LRCX. Zacks Investment Research lowered shares of Lam Research from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 26th. BidaskClub upgraded shares of Lam Research from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 10th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $230.00 target price on shares of Lam Research in a research report on Wednesday, October 18th. DA Davidson reiterated a “buy” rating on shares of Lam Research in a research report on Wednesday, October 18th. Finally, KeyCorp reiterated a “buy” rating and issued a $225.00 target price (up previously from $202.00) on shares of Lam Research in a research report on Wednesday, October 18th. Two equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $220.80.

Lam Research (NASDAQ:LRCX) traded up $14.69 during mid-day trading on Wednesday, reaching $205.08. 6,492,435 shares of the company traded hands, compared to its average volume of 2,970,000. The firm has a market capitalization of $33,210.00, a price-to-earnings ratio of 18.73, a PEG ratio of 0.86 and a beta of 1.57. The company has a current ratio of 3.31, a quick ratio of 2.83 and a debt-to-equity ratio of 0.24. Lam Research has a 52 week low of $108.46 and a 52 week high of $219.70.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.27 by $0.19. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.46 billion. Lam Research had a net margin of 22.85% and a return on equity of 30.19%. The firm’s revenue was up 51.8% on a year-over-year basis. During the same quarter last year, the business earned $1.81 earnings per share. research analysts predict that Lam Research will post 14.74 EPS for the current year.

Lam Research declared that its board has authorized a stock buyback program on Tuesday, November 14th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

In other news, VP Patrick J. Lord sold 264 shares of the firm’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $216.08, for a total value of $57,045.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael R. Cannon sold 9,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $212.43, for a total transaction of $1,911,870.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,269 shares of company stock worth $6,615,633. Insiders own 0.41% of the company’s stock.

Several large investors have recently bought and sold shares of LRCX. Schwab Charles Investment Management Inc. raised its stake in Lam Research by 3.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 610,178 shares of the semiconductor company’s stock worth $112,316,000 after purchasing an additional 20,480 shares during the period. Coastline Trust Co purchased a new position in Lam Research during the fourth quarter worth about $265,000. Koshinski Asset Management Inc. raised its stake in Lam Research by 10.0% during the fourth quarter. Koshinski Asset Management Inc. now owns 10,320 shares of the semiconductor company’s stock worth $1,900,000 after purchasing an additional 935 shares during the period. First National Trust Co purchased a new position in Lam Research during the fourth quarter worth about $201,000. Finally, BerganKDV Wealth Management LLC raised its stake in Lam Research by 22.7% during the fourth quarter. BerganKDV Wealth Management LLC now owns 4,121 shares of the semiconductor company’s stock worth $759,000 after purchasing an additional 762 shares during the period. 93.45% of the stock is currently owned by hedge funds and other institutional investors.

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Lam Research Company Profile

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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